Outside Scholarships

An outside scholarship is any scholarship not awarded by the government or the school, such as a scholarship provided by a private sector company, high school or community foundation. Outside scholarships are considered resources, meaning that they may reduce a student’s financial aid package dollar for dollar. Schools often do not have a choice in the matter. Federal rules concerning "overaward situations" require the school to reduce the financial aid package when the sum of financial aid from all sources exceeds the school's cost of education.​Students are required to report any outside scholarships to the school's financial aid office. If a student fails to report an outside scholarship, they may be required to repay the school or the government all or part of their need-based financial aid package.